- Trump administration plans to ban CBDCs.
- Bitcoin market is volatile due to policy changes.
- Trump’s policy favors decentralized finance.
David Sacks, the White House director of artificial intelligence and cryptocurrency, indicated that the Trump administration intends to ban the issuance of central bank digital currency (CBDC) as reported by PANews.
The statement marks a significant stance in US digital currency policy under Trump, affecting both domestic and international financial landscapes.
Bitcoin Market Update: Volatility Amidst Policy Speculation
According to CoinMarketCap, Bitcoin’s price fell by 3.17% over the last 24 hours, reaching $116,395.23, with a market capitalization of $2.32 trillion. Despite the drop, BTC remains dominant, representing 63.33% of the cryptocurrency market. Within a 90-day frame, BTC rose notably by 36.91%, suggesting market volatility after policy discussions.
Insights from the Coincu research team emphasize that crypto regulations under Trump favoring decentralized finance might bolster private tokens over national digital initiatives in the US. This policy approach implies a closer alignment with tech industry advocates, as discussed by David Sacks on cryptocurrency regulations.
Did you know? The notion of a CBDC ban aligns with longstanding US policy trends favoring private financial innovation, harking back to the deregulation acts of the 1980s.
Market Insights and Future Outlook
Did you know? The notion of a CBDC ban aligns with longstanding US policy trends favoring private financial innovation, harking back to the deregulation acts of the 1980s.
Bitcoin’s price fell by 3.17% over the last 24 hours, reaching $116,395.23, with a market capitalization of $2.32 trillion.
Despite the drop, BTC remains dominant, representing 63.33% of the cryptocurrency market. Within a 90-day frame, BTC rose notably by 36.91%, suggesting market volatility after policy discussions.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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